Dyax and Glenmark Pharmaceuticals will work together to discover therapeutic antibodies. Dyax will perform funded research to identify antibodies for three targets provided by Glenmark. Furthermore, these research activities may be expanded to include additional targets.
Dyax will receive technology license fees and full time employee payments from Glenmark for the research as well as clinical milestone payments and royalties on net sales that may result from Glenmark’s development and commercialization of antibodies from Dyax’s libraries. The agreement also provides Glenmark with sublicenses to relevant third-party antibody phage display patents that may be used with Dyax’s technology.
“This is a very important step in Glenmark’s entry in the field of novel biologics research,” remarks Glenn Saldanha, managing director and CEO of Glenmark. “Oncology and inflammation are areas of large unmet medical needs. Our strategy to supplement NCE research with biologics research would allow us to build a strong pipeline in this area.
“We expect the first biologic product from Glenmark to enter clinics in 2009.”